Taylor Wimpey In Debt Talks - Financial Times

12th Jul 2010 07:24

LONDON (Dow Jones)--Taylor Wimpey PLC (TW.LN) is negotiating with lenders over a refinancing package that would increase the ability of the U.K.'s second-largest housebuilder by volume to buy land, the Financial Times reports Monday, citing a person close to the company. Taylor Wimpey is seeking to refinance its bonds and bank loans after last year completing a GBP1.55 billion debt restructuring that extended the repayments due on its debts to July 2012, the report says. However, the terms of its current borrowings restrict management's ability to buy new land, essential if the company is to cash in on the nascent recovery in the housing market. Newspaper Web site: www.ft.com -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 (END) Dow Jones Newswires July 12, 2010 02:24 ET (06:24 GMT)